Extract Resources Announces A Major New Uranium Discovery at Rossing South
Thursday January 31, 6:41 pm ET

SOUTH PERTH, WESTERN AUSTRALIA--(MARKET WIRE)--Jan 31, 2008 -- Extract Resources (Toronto:EXT.TO - News)(ASX:EXT.AX - News) is pleased to announce a major new uranium discovery at their Rossing South exploration target which is part of their wholly owned Husab Uranium Project in Namibia.

SUMMARY:

- Outstanding drill hole assay results hosted within uraniferous alaskite confirm a major new uranium discovery beneath desert sands, about 7 kilometres south of the Rossing Uranium Mine. Two of the three discovery holes ended in mineralisation and results include:

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- Reconnaissance drilling on lines 1.6 and 3.2 kilometres to the south and along-strike, has encountered further anomalous zones.

Extract Resources Managing Director, Peter McIntyre, said that this immediate success indicates enormous potential for the Rossing South target.

"The discovery so early in the program is an outstanding result. This is only the first line on a 15 kilometre strike target, and grades are similar to the Rossing mine grades. These early results cannot be understated, and confirm Rossing South as a world-class target."

The discovery holes are approximately 1.5 kilometres from Extract's northern boundary, which it shares with the world-class Rossing uranium province, and 7 kilometres south of the Rossing Mine itself. The Rossing South target area extends for 15 kilometres onto Extract's licence, and is covered by desert sands up to 50 metres thick. This is the first time this target has been drilled.

A core hole is currently being drilled beneath the discovery holes, and a scissor RC hole will also be drilled to check the orientation. Reconnaissance drilling has also begun testing the bedrock 1.6 and 3.2 kilometres to the south and along the interpreted strike. Anomalous zones of uraniferous alaskite have been identified, and deeper drilling into these zones is now also planned.

DISCOVERY DETAILS

The discovery holes are approximately 1.5 kilometres from Extract's northern boundary, which it shares with the world-class Rossing uranium province. This area hosts the main Rossing deposit, which accounted for 8% of the world's U3O8 production in 2007. Several other deposits are also located on the Rossing mining licence. Southern strike extensions of the same stratigraphy that host the Rossing deposits trend under desert sands onto Extract's licence; this surficial cover partly explains why there has been no previous exploration on Extract's Rossing South area (see Appendix 1).

1.6 kilometre spaced drill lines with 80 metre spaced holes were planned to test the bedrock under the surficial cover, which is generally about 40m thick in the region. From initial drilling of the first drill line, indications of alaskite were identified over a wide zone of at least 160 metres. Follow up drilling included a line of 80 metre spaced angled holes, to a depth of 160m, which was the depth capacity of the drill rig.

Two of the first three deeper holes on the first traverse of the Rossing South target intersected massive zones of uranium mineralisation. The Company advises that these results, of the first ever drilling of the Rossing South target, constitute a new discovery.

The first two holes intersected 40 metres @ 240 ppm U3O8, and 100 metres @ 265 ppm U3O8. Significantly, RBA001 and RBA002 ended in mineralisation, as the drill rig reached the limit of its drilling capability. Full details are shown in Appendix 3.

An orientated core hole is currently being drilled beneath RC holes RBA001, 2 and 3 to confirm the geological and structural interpretation of the area. This drilling is expected to be completed in February 2008. Additional RC and diamond drilling is also being planned.

Lines of RC drilling have also been partly completed 1.6 and 3.2 kilometres south of the discovery Line 1 (see Appendix 2). Alaskite has been intersected in several holes with hand held spectrometer readings indicating anomalous uranium levels in two holes on Line 2 and three holes on Line 3. These drill lines are still incomplete and the full extent of the alaskite zone undetermined. Assay results are awaited. Drilling on this significant target zone will continue throughout 2008.

It should be noted that the potential extra value of Rossing South to the Company is in addition to the resource definition programme currently underway on the Ida Dome project, which is 20 kilometres to the south of Rossing South. If drilling at Rossing South continues to return such significant results it is possible that the Company could undertake feasibility work on developing two mining projects within the Husab Uranium Project, one centred on the Ida Dome prospects and one centred on Rossing South.

The information in this report that relates to Exploration Results is based on information compiled by Mr Martin Spivey, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr Andrew Penkethman who is a Member of the Australian Institute of Geoscientists. Mr Spivey and Mr Penkethman are both full time employees of the Company. Mr Spivey and Mr Penkethman have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Spivey and Mr Penkethman consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

ninder - the purpose of my market cap comparison of RIO to EXT wasn't to say that EXT could be at the same market cap as RIO - of course uranium is only a small part of RIO's global operations which are dominated by iron ore but include just about every major mineral that can come to min'e'd.

The purpose of putting them side by side was to highlight that RIO - a gorilla resource stock - happens to have an operating uranium mine right next door (7km away) to EXT a guppy/banana/gorilla food.

I also know that RIO wouldn't buy EXT at this current point in time. But if they prove up Rossing South, and also define high grade JORC resources across Garnet Valley then EXT is but an apperitif for a gorilla like RIO. The manager assigned to the takeover would be at least twice removed from the board it would be that irrelevant. (I'm guessing on this last sentence lol I'm sure no company would not take a 500m takeover seriously).

These are really big numbers. We have another Paladin at least. Let's also note that paladins market cap is over 2 billion. I hope management doesn't opt for a buyout down the road. It could grow to a market cap of 3-4 billion if they develop. A buyout would be giving this away.

I think I might have understated the Rossing production in my post above - according to May 07 Uranium presentation from RIO the Rossing mine produces circa 3500 tonnes Uranium p.a (so more like 7 to 8 million Lbs per annum).

Also interesting that the shortfall of global U demand to mine production is of the order of 20,000+ tonnes U per year so this additional 20k tonnes is coming from secondary sources at the moment.

Also worth noting that EXT's Rossing South is a 15km long target. The widths and grades of the very first drill line are on par with those of the Rossing Mine.

Obviously with Rossing only 7km's to the North there is power and other facilities in proximity etc.

I completely agree. It's tough not to look at this one with a huge amount of excitement. They've got all the pieces of the puzzle. location, proven management, pulling out good grades (not even taking into account the crazy grades they just recently pulled out). I like the fact that their Rossing South discovery is basically sitting right on top of Rio Tinto's Rossing mine. Could there be any better indication that they will prove up an economic resource and build their own mine?? I too hope they do mine it themselves, because that will be about the time Uranium is 100+/lb (they did their scoping study with a U price of $45/lb). They will be hugely profitable. Although the uranium spot prices have drifted down slightly over the past little while, it is still looking very bullish long term. Go long boys

It's been some time since I posted here so let me re-introduce myself. I am in Australia and I have been holding EXT since Sep 2005 and I hold a lot.

There have been some people grumbling and groaning how EXT has jumped so much on the basis of "just one hole". Never mind their motivations or what they hold, nevermind if these people are jealous or what, that's not important. What is important is to think about this.

I posted this on Hotcopper here in Aus but I think it bears repeating so our friends up there in the frozen North can have an opportunity to see the potential with EXT.

So "one hole" hmmm.

You know, I am no mining expert, not by a long shot, so I think of things in my simple terms.

I think to myself, you want to drill a hole and you don't really know where to drill or which direction to drill (because you are going to drill on an angle). You know which angle you want to drill (60 degrees) but you have lots and lots of empty land and even if you choose a spot to drill you still have 360 degrees to choose from in terms of a direction.

There's a lot of land there in Namibia you have tons of square kilometres in which to choose to start.

So you choose a spot and then you choose a direction and then you drill at 60 degrees.

You find that you hit an incredible pocket (0.1344%) which is ten times as good as most others found so far. That good stuff doesn't stop after a few metres, no, it goes on and on and on.

It goes on for 125 metres !!! Sure you get some even richer pockets but they are just cream on top. Let's not dwell on them, they are great but we are looking at meat and potatoes here.

So I ask myself, what are the odds that you have coincidentally drilled down the middle of a little thin strip that just happened to start near where you decided to drop your drill AND that it just happened to go down at the exact same angle you chose AND in the exact same direction you chose.

The odds are pretty slim that all those coincidences would ummmmm coincide (OK, overuse of the word, so sue me).

So if the odds of all those things coinciding are astronomical how do we explain that drill result?

Well, in my simple way, I think you have not coincidentally hit a long thin strip, you have actually drilled into a really large, incredibly rich deposit. It wouldn't have mattered which angle or direction you chose to drill because you would still have hit incredible results.

Sure, maybe I am wrong but you can bet your bollocks, your family jewels, your left nut, whatever you find important, that EXT are drilling the BeJesus out of that area.

It won't be too long before we see if my simplistic understanding has arrived at the correct conclusion.

I hope you guys and girls there in Canada and the USA take some time to think about all this. There's money to be made here.

Yes the French Connection made me sit up and take notice. The first thing I thought was that Aveva are making a move.

They tried and failed with SMM and they may be looking at minnows like EXT rather than monsters which will be harder to reel in.

If they made a move on EXT now (and didn't have too much competition) they would make us a lot richer a lot more quickly but for them it would be peanuts.

Having said that, KAH is still the major holder with 38% so they would have to deal with Peter Mac on two fronts. He is CEO of both EXT and KAH so he is the key man in all this.

I have very little doubt that there are people working right investigating EXT and making an assessment of whether they should make a move sooner rather than later. Those people won't just be with Aveva, there will be PDN people and there will be RIO people and perhaps others.

Let's hope they fight each other for this gem because out of that conflict the major winners would be EXT holders.

have held EXT for a long time and one thing I have learned about EXT is that in the absence of news, the short termers lose interest and move on.

That is unreasonable of them as a company can't put out drill results every week but still that is my observation.

I felt that today showed a number of off-screen buys which held the 1.42/3 line for most of the day but when then that buying slowed it started to pull back to the low 1.40's as buyers in the queue had their orders filled.

I expect at least one more round of drill results, perhaps two before the quarterly report and perhaps the maiden statement. If those results are respectable (no reason why they should not be) I expect another surge and then settling again at a new level.

It will be a slow rise of surges and plateaus but I am confident that the latter half of 2008 will see much higher prices than we are seeing now.

SOUTH PERTH, WESTERN AUSTRALIA--(MARKET WIRE)--Feb 25, 2008 -- Extract Resources (Toronto:EXT.TO - News)(ASX:EXT.AX - News) is pleased to provide an update on exploration progress at their Rossing South discovery, part of the wholly owned Husab Uranium Project in Namibia.

SUMMARY:

- First pass reconnaissance drilling on three lines 1.6 kilometres apart indicates that uranium mineralisation extends over a zone of at least 3.2 kilometres along regional strike.

- Width of mineralised system at least 160 metres on discovery Line 1 and anomalism over 500 metres wide on Lines 2 and 3.

- Angled core holes on discovery line confirms geometry of mineralised system with broad zones of anomalous uranium mineralisation indicated by hand held spectrometer readings taken from drill samples.

- Three drill rigs now operating at Rossing South to follow up on discovery results.

The initial Rossing South discovery holes are approximately 1.5 kilometres from Extract's northern boundary, which it shares with the world-class Rossing uranium province, and 7 kilometres south of the Rossing Mine itself. The Rossing South target area extends for 15 kilometres onto Extract's licence, and is covered by desert sands.

Significantly, both original discovery holes ended in mineralisation indicating that the mineralised system is more extensive than the initial assay results suggest. Reconnaissance drilling has also been completed testing the bedrock on traverse lines (2 and 3) 1.6 and 3.2 kilometres to the south and along the interpreted strike. Anomalous zones of uraniferous alaskite have been identified, and deeper drilling into these zones is now underway. Rossing South is shaping up as a very large mineralised system with uraniferous alaskites and sediments intersected on Lines 2 and 3 extending over 500 metres in width.

DETAILS

Reconnaissance exploration drilling has now been completed on three lines of drilling with lines 1,600 metres apart and holes spaced on 80 metre centres. This drilling has been aimed at testing a magnetic low feature interpreted to represent the Khan and Rossing Formation unconformity surface. The uranium mineralised alaskites at the Rossing Mine and around Ida Dome generally occur proximal to this surface. The reconnaissance exploration drilling has intersected several zones of anomalous uranium mineralisation with the main zones apparently continuous along regional strike, as interpreted from first vertical derivative magnetic data (See Appendix 2).

The anomalous uranium mineralisation has been detected using a Exploranium, GR-135 Plus, handheld spectrometer. This unit records uranium, thorium and potassium data. The uranium values are recorded as parts per million (ppm) eU which is equivalent to ppm U. Use of the hand held spectrometer on bags of drill cuttings from the Husab Uranium Project has indicated that the unit under-reports uranium grades within the zones of uranium mineralisation with respect to the more conclusive chemical assay results. So whilst an indication of uranium mineralisation can be gained from using the hand held spectrometer, chemical assays are required to fully quantify the significance of the uranium mineralisation intersected by drilling. These results with be released when available.

Angled, deeper holes have yet to be drilled on Lines 2 and 3, but exceptional hand held spectrometer results have been returned from the vertical reconnaissance holes with individual metre samples returning values up to 2,520 ppm eU (0.25%eU). The most significant intersection so far from the Rossing South hand held spectrometer results is 49m @ 337 ppm eU on Line 3 (See Appendix 2). The tenor of these results exceeds any previously encountered on the discovery section (Line 1, 3.2 kilometres to the north) by a considerable margin. RC drilling has also commenced on a fourth line 1.6 kilometres south of Line 3.

The zone of anomalous uranium mineralisation intersected on Lines 2 and 3 is over 500 metres wide. The potential significance of these results becomes apparent when compared to the original vertical discovery holes drilled on Line 1 which indicated a mineralised zone of at least 160 metres in width, which was subsequently confirmed by deeper, angled drilling.

One core hole has been completed on the discovery section (Line 1), at Rossing South, and a second hole is in progress. The drill core from these holes indicates that the mineralised alaskites are steeply dipping to the east (see Appendix 3). The uranium mineralisation is hosted within multiple alaskite dykes and on the margins of gneiss and schist contacts. Abundant secondary uranium mineralisation, in the form of uranophane, has also been noted. The alaskite zone hosting the uranium mineralisation identified on Line 1 has been interpreted as being approximately 160 metres wide, with attractive grades being returned from assays carried out to date. Early indications are that the uranium grades being returned from the discovery section, at Rossing South, are consistent with those obtained from the nearby Rossing Mine, and may be somewhat higher than the average grades of other alaskite hosted uranium deposits in the Erongo Region.

FUTURE STRATEGY

Given the continued success of exploration at Rossing South three drill rigs have been dedicated to the Rossing South project area. These include two RC and one diamond core rig. Additional reconnaissance drilling will also be completed south of Line 3 and north of Line 1. Drilling on Line 4 has already commenced. The Company will also continue to explore the remainder of the 15 kilometres of prospective strike as interpreted from the magnetic data.

The Company considers Rossing South has excellent potential to host a significant uranium deposit under the sand cover and early progress has reinforced this view. Once angled holes have been completed on Lines 2 and 3, to refine the geological model, the Company will have done much of the initial work required to define an exploration target that it believes will represent a major mineralised system.

Competent / Qualified Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Martin Spivey, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr Andrew Penkethman who is a Member of the Australian Institute of Geoscientists. Mr Spivey and Mr Penkethman are both full time employees of the Company. Mr Spivey and Mr Penkethman have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Spivey and Mr Penkethman consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Forward Looking Statements

This release contains certain forward looking statements. Forward looking statements are subject to a variety of risks and uncertainties which are not able to be controlled by the Company and cannot be reliably predicted. Actual events or results may be materially different from those that are anticipated in any forward looking statements.

Hand Held Spectrometer Results

The anomalous uranium mineralization described in this report has been detected using an Exploranium, GR-135 Plus, handheld spectrometer with readings taken on bags of drill cuttings and on cut core at surface. Company experience with such readings has been that the unit generally under-reports uranium grades. Whilst the Company anticipates that such readings will continue to give a reasonable indication of expected uranium content, more conclusive results are only obtained from chemical assay testing. Assay results for current drilling will be announced in future releases.

I think the sheer logic of it all is overwhelming. A new plant would cost hundreds of millions, time savings because they are up and running in a few short months. Everyone's a winner baby, that's the truth.

We have been patient and our patience has paid off, both with Rossing South and Garnett Valley. EXT holders understand patience, they are the personification of patience and now they will be rewarded.

Buddha spoke of the beneficial fruits of patience but I think he meant patience with other people as opposed to the patience we EXT holders have had to display.

Here are some quotes about patience which I think we can all benefit from:

"Patience is waiting. Not passively waiting. That is laziness. But to keep going when the going is hard and slow - that is patience." - Anonymous

"Patience is the companion of wisdom." - St.Augustine

"The two most powerful warriors are patience and time." - Tolstoy

"He that can have Patience, can have what he will" - Benjamin Franklin

"Patience and fortitude conquer all things" - Ralph Waldo Emerson

"All good things come to he who waits" - Ancient Proverb

"The key to everything is patience. You get the chicken by hatching the egg, not by smashing it." - Arnold H. Glasgow

"Patience is a virtue, Possess it if you can, Seldom found in woman, Never found in man" - Anonymous (but probably a woman I would guess).

"Patience is passion tamed." - Lyman Abbott

"Patience can conquer destiny" - Irish Saying

"If we are facing in the right direction, all we have to do is keep on walking." - Buddhist Proverb

"Patience is bitter, but its fruit is sweet." - Jean-Jacques Rousseau

"All we need is a little patience" - Axl Rose

Bless you all and welcome to TSX EXT holders, although you may not know it, you are part of something big.

The questions must be asked.
1 Why
2 Who knows what.
3 What is the next move in the big game.

Lets take a look at the facts and make a guess or two.

Niger Uranium has just taken a a 18% stake in Kalahari,
http://www.niger-uranium.com/index.php?option=com_content&task=view&id=12&Itemid=27

http://www.kalahari-minerals.com/

And Kalahari controls a 36% stake in EXTRACT, approx.,
http://www.extractresources.com/CompanyOverview/CompanyDirectorsandManagement/tabid/610/Default.aspx

Some questions
4 Is there any connection between these Companys?
5 Why would Niger be interested in a share of KAH -
6 Is there something someone from Niger knows, that would suggest to them a large stake in KAH is a positive investment ?

1, Why.
Why did NIGER take a 18% stake in KAH, approx
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=EXT&companyName=&principalActivity=&industryGroup=NO#headlines

A guess, it is almost impossible to buy on market a large stake in EXTRACT directly on the open market as the number of shares available for sale/trade is/are extremely low on a daily basis.
Therefore a side door entry would be the quickest and the cheapest entry possible.

2 Who knows what.
The facts are,
The giant French U Comapny Areva bought out Nigers interest in Namibia for roughly $2.5Billion-
that a joins Australia's WME in Namibia.
http://www.wametals.com.au/index.php?section=1
Niger must be well funded now !
Ian Stalker is the Executive Deputy Chairman & Chief Executive Officer of Niger.
Ian Stalker also worked within Australia, EXTRACT's home base.
"Mr. Stalker worked as a consultant on various projects located in Africa,
including the Langer Heinrich uranium project in Namibia."

A guess,
Mr Stalker would have a knowledge of the land/geo details of EXTRACT's lease.
Mr Stalker may have a greater knowledge of this lease, EXTRACT's, than 99.9% of people outside EXTRACT.
Mr Stalker would know and understand how hard it would be to obtain a large holding in EXTRACT.

3 the big game.
A pure guess/s.
A take-over, the easiest way possible without alerting too many other player, both minor and or major which could or may increase the current share price of EXTRACT.
OR
To gain, in dollar terms from a possible take over of EXTRACT, by obtaining a cheap entry to EXTRACT, via KAH.
OR
Mr Stalker would or could have knowledge about Areva next 'buy'.

4 Is there any connection between these Companys?
A guess.
The knowledge and understanding about the HL mine of PDN, because Mr Stalker worked on this project.
The detailed knowldge of the geo layout and methods of extraction of ore of the general area in Namibia.

5 Why would Niger be interested in a share of KAH
As a side door entry to EXTRACT and the possible rise in EXTRACT's share price due to both the general Husab and now Rossing Soth discovery.
It is noticalbe that Niger has only make their move AFTER the discovery of the potential monster called Rossing South, RS

6 Is there something someone from Niger knows, that would suggest to them a large stake in KAH is a positive investment

A guess only
Mr Stalker and the Board of Niger U MUST KNOW the details of RS and UNDERSTAND its potential,
because of their local experience (near to EXTRACT's RS lease)

Kind regards,
UB
PLEASE you must do your own research as it is your money, the above suggests and or implys nothing to no one alive or dead.

NU paid 12.4 m pounds for 17% of KAH who own 36% of EXT
KAH have 38 M pound market capital, 30 M of them is EXT, so 78% of KAH worth is from EXT.
So Nu effectively valued EXT at 12.4*30/38/(17%*36%) ~160 m pounds, well, it is about ~$1.8 per share.
hahppy to be corrected

Extract has two exciting uranium projects on its 100% owned
exploration licences located just south of the Rössing mine in
Namibia.

• Its main asset is the Ida Dome project for which a scoping
study has been completed; however, its newly discovered
Rössing South project could become even more valuable in the
near term.
• We are initiating coverage of Extract Resources with a
Speculative Buy recommendation and a C$2.05 target based
on 1x our NAV of C$2.05.
Company and Industry Fundamentals

Valuation and Recommendation

We have valued the company largely from its NAV, which we have calculated to be
C$2.05 using a 10% discount rate. We have modelled a slightly larger throughput
than envisioned in the scoping study to produce over 5m lbs of U3O8 per annum
and estimate the operating costs in the first five years of production could average
$23.14 per pound of U3O8. Using our U3O8 price estimates, Extract could
generate nearly US$150m in pre-tax cash flow from operations at the Ida Dome.
We are initiating coverage with a Buy Rating and a $2.05 target price.

TORONTO, April 4 /CNW/ - NWT Uranium Corp. (TSX-V: NWT - News; OTCBB: NWURF - News) is pleased to announce that through its holdings of Niger Uranium Ltd. it has acquired an interest in Kalahari Minerals PLC, an AIM-listed company with assets in Namibia.

As announced in a press release on March 20, 2008, Niger Uranium has agreed to acquire up to 27,680,000 shares of Kalahari, which would represent 17.5% of the company, upon completion of a Kalahari private placement. As NWT is the largest shareholder in Niger Uranium with a holding that would constitute 32% of Niger Uranium shares following completion of the Kalahari agreement, NWT's stake in Kalahari would represent 5.6%.

Kalahari's principal asset is a 36.2% interest in Extract Resources Limited, which trades on the Australian Stock Exchange (ASX) and has uranium exploration licenses in Namibia. NWT's subsequent interest in Extract is calculated at 2.0%. In addition to its holdings in Extract, Kalahari has property interests in the Dordabis and Witvlei copper exploration properties, located in Namibia's Kalahari copper belt.

The directors of Niger Uranium, including Marek J. Kreczmer, President and CEO of NWT Uranium, believe that "the acquisition of a substantial stake in Kalahari Minerals provides Niger Uranium with interests in nearer-term potential uranium production and a diversification of its uranium portfolio into Namibia, a country with a reputation for having a positive approach to the development of mining projects."

The purchase price is 12,400,000 pounds sterling, satisfied through a cash payment of 7,470,000 pounds sterling from Niger Uranium's existing cash balances, and the issuance of 17,000,000 new Niger Uranium shares. This share issuance subsequently dilutes NWT's stake in Niger Uranium to approximately 32%. Admission of the new shares is expected to become effective on March 31, 2008.

Niger Uranium trades on London's AIM market under the symbol URU, while Kalahari trades under the symbol KAH. Extract trades on the ASX under the symbol EXT.

ABOUT NWT URANIUM:

NWT Uranium Corp. (www.nwturanium.com) is an international resource exploration company with an experienced, highly technical management team. Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets. NWT Uranium is listed on the NASD Bulletin Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol "NWT."

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource on any of the properties referenced in this press release and it is uncertain if further exploration will result in any such targets being delineated as a mineral resource.

Catalysts and Risks
The greatest risks facing the company are fluctuations in currency and commodity
prices. As with any uranium project, the company’s assets are most levered to the
uranium price. However, we have used a US$40 long-term U3O8 price in our
model, which is approximately 40% below the current spot price.

We expect a
bankable feasibility study could be completed in mid 2010 which could show the
project is very robust, even at conservative uranium prices for the next several
years. A substantial catalyst for the stock could come from further exploration
news from its newly discovered Rössing South discovery. A significant risk for
Extract is the project financing for the Ida Dome. We estimate that the capex could
be in excess of US$300m.

Valuation and Recommendation
We have valued the company largely from its NAV, which we have calculated to be
C$2.05 using a 10% discount rate. We have modelled a slightly larger throughput
than envisioned in the scoping study to produce over 5m lbs of U3O8 per annum
and estimate the operating costs in the first five years of production could average
$23.14 per pound of U3O8. Using our U3O8 price estimates, Extract could
generate nearly US$150m in pre-tax cash flow from operations at the Ida Dome.
We are initiating coverage with a Buy Rating and a $2.05 target price.

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper, base metal and uranium interests in Namibia, held a General Meeting today to enable the Directors to increase their authority to allot new Ordinary Shares and to dissapply pre-emption rights in connection with a placing to raise £14.4 million (before expenses) by way of an issue of 46,080,000 new Ordinary Shares at a price of 31.25 pence per new Ordinary Share (the "Placing"), as announced on 20 March 2008.

At the meeting, Resolution 1 regarding the allotment of securities with regards to section 80 of the Companies Act 1985 was passed, with proxy votes as follows: votes received in favour totalled 63,478,928, those against 4,130,303 and at discretion 5,000. Resolution 2 regarding the disapplication of pre-emption rights pursuant to section 95 of the Companies Act 1995 was also passed with proxy votes as follows: votes received in favour 63,459,178, those against 4,142,553 and at discretion 8,000.

Kalahari Chairman Mark Hohnen said, "I am delighted with this response from both institutional and private investors. The overwhelming support in favour of the resolutions endorses our strategy and is a huge vote of confidence from our primarily London based shareholders. With the placing now finalised, where we welcome a number of new institutional shareholders including Blakeney Management, we are in a very strong position with cash resources of approximately £16 million to progress our aggressive growth strategy.

"These funds will enable us to continue to develop our copper and base metal projects in Namibia, and will importantly allow us, if possible, to maintain our stake in Extract Resources Ltd (ASX and TSX: EXT) where we have a 36.2 per cent. equity holding. We divested our uranium assets in March 2007 in return for our Extract shares but we see our holding as an important part in our strategy in Namibia and are keen to maintain our exposure to the prospective Husab uranium project."

Application has been made for the 46,080,000 new Ordinary Shares to be admitted to trading on AIM and trading is expected to commence on 15 April 2008. The Company's Total Voting Capital following the admission of the new Ordinary Shares will be 161,309,130 Ordinary Shares.

Niger had 12.69% in some exploration projects in Argentina, Paraguay and Colombia private company
and yesterday bought another 20.89%.

Thats why i think they will come for more

In this report they have >>>> Niger Uranium, the uranium focused exploration and investment company with interests in Niger and Namibia!!!

= uranium interest in Namibia is only through KAH = 5.8% in EXT. BUT!! EXT small% is very important to them because they have it in every statement, since they bought into KAH.

21 April 2008
Niger Uranium Limited

Acquisition of substantial interest in UrAmerica plc ("UrAmerica")

Niger Uranium, the uranium focused exploration and investment company with interests in Niger and Namibia, announces that it has acquired an initial 20.89 per cent. strategic interest in UrAmerica (increasing to 33.58 per cent. on a fully diluted basis), a private company with uranium exploration projects in Argentina, Paraguay and Colombia.

Ian Stalker, Deputy Chairman of Niger Uranium, said:

"Niger Uranium continues to build an exciting portfolio of uranium projects alongside the development of its wholly-owned uranium exploration projects in Niger on which encouraging drilling results have recently been announced. This strategic investment in UrAmerica gives us entry into Argentina, a prospective uranium district that we have been targeting for some time. This investment adds to our recently acquired interest in Namibia.

For holders & a medium term view the 1.30 resistance level is important ... but the 1.11 clearance will bring in shorter term tech traders, and is a good sign for those wanting to either get on or buy more ... a clearance of the 1.11 mark equals a strong buy signal.

Once it hits 1.30, depending on its momentum & news flow, that should be its next resistance point.

My views on R south.

My views on it have in hindsight proved incorrect. I have said here that I thought it was a mistake dividing, and exploring Rossing South. I much preferred BMN's approach in concentrating everything on anom a.

As I said, I was incorrect. The positive drilling results at RS along with the rich drill hit at Garnet have single handedly kept EXT from tanking with every other U explorer during the last 6 dark months on the market.

However, I still feel that in the long run, BMN's approach will work out the better way. Too many things conspired against them. ITM they have kept the drilling going like the clappers at AA and have taken the drilling to a very advanced status ... bar the slow lab turnaround. They are very close to definitive announcements.

So what a bout Rossing South ... I think it is a better target than Ida Dome. I have never really liked Ida Dome too much ... I know you guys like Hollands Dome ... But IMO the best deposit is at Garnet Valley. A line I posted on this board a number of times is "Garnet Valley is The Key" IMO that proved correct in two ways. 1] That is where they have continued to do the most drilling .. ie, they thought it was the best one 2] the sensational hits there announced in Jan.

Why do I think RS is better? Well for the following reasons
1] good location south of Rossing
2] some very good hits already ... not sensational like that at Garnet, but good nonetheless
3] much better, easier geology to get rigs in, & develop into a mine ... Ida is too hilly & rough for me.
4] the fact that management persisted in diversifying to me indicated they had a question mark over Ida & needed to get results elsewhere. Hence that they felt RS could be the better deposit

Now these comments are not to knock EXT, they are part of my questioning nature more than anything.

It is now up to results for EXT. Then they will have a dilemma. As they get excellent drill results from RS, which project do they develop first? Ida or RS? Both together?

If they extend those sensational hits at Garnet, I reckon they will develop that deposit first.

Rather than the comment being negative ... I think it is very exciting for EXT holders because their are a number of alternatives, and a number of news drivers in place.

But in summery ... RS is the best deposit in my view

cheers

hbg55

schrieb am 09.05.08 06:52:33

Beitrag Nr. 183 (34.061.179)

Thursday the 8th May 2008

The directors of Kalahari Minerals (AIM:KAH) & Extract Resources (ASX & TSX:EXT), DiamonEx (AIM ON) and Norseman Gold Plc (AIM:NGL) will be hosting an investor presentation on Thursday the 8th May at 6pm with Q&A to follow. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception. Details on the presenting companies can be found in the articles linked to the left of this page and in the abstracts below.

The presentations will start @6:00pm and finish at 7:30pm. Kalarahi Minerals and Extract resources will be a joint presentaion as Kalahari own a 39% stake in Extract Resources.

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB Click here for a map of the venue.

South Perth, Western Australia – June 13 2008 – Extract Resources (“Extract” or “the Company”), (TSX / ASX :EXT), a Uranium exploration company with projects in Namibia, Africa, today announced that a placement to professional and sophisticated investors has been committed to, to raise a total of A$30.5M from the issue of 27.75M fully paid ordinary shares at a price of A$1.10 per share.

gesamte NEWS zu sehen unter........

http://stocknessmonster.com/news-item?S=EXT&E=ASX&N=410116

Peter McIntyre, Managing Director of Extract Resources, said today “We are delighted to welcome some new high quality institutional investors to our register”. Mr McIntyre further added, “The Company continues to develop the potential of its projects and has now secured sufficient funding to further advance them. I anticipate that the next 6 to 12 months will be a period of significant expansion in our resource potential.”

The Extract board are pleased to announce the appointment of Mr Stephen Galloway as a non-executive director to the board of Extract Resources Limited.

Mr Galloway (51) is a Namibian resident and has extensive experience working in Namibia across mining, energy, investment and financial sectors. He began his career as a geologist, working with various Namibian companies, after which he held a number of positions within the Namibian Government including Chief Mineral Economist, Under Secretary of the Ministry of Trade and Industry and Executive Director of the Namibian Investment Centre. He is a director of AIM listed Kalahari Minerals plc and of NedCapital Namibia (Pty) Ltd, a company that provides specialised project and corporate finance products and financial services to the Namibian market.
Mr Galloway’s extensive Namibian experience and background in geology, which includes specific experience with Extract’s project areas, make him an ideal addition to the board. All Directors and staff look forward to working together with him as we continue to accelerate the Company’s Namibian uranium projects towards development.

As Tibbs said you wont get a substantial holding
in a stock that is moving very quickly on the up.

Uranium is a plus especially EXT $ BMN.

The reason I say this is.The two candidates in the US elections Mcain and
Obama, have both stated that nuclear power is a
must.
They have also said that coal fired power is on
the way out as far as they are concerned.
Because of the disaster of Greenhouse Gases

Also with Northern China and India and Major parts
Europes food growing areas, under extreme droughts
because of this problem.

All told if I remember correctly, there is 450
Nuclear Power Plants on the drawing board,and more
get added every week.

They have no alternative but to go Nuclear.

EXT will have one of the biggest Uranium mines in
the World at ROSSING SOUTH and thats not including
HUSAB. The JORC RES for HUSAB imho should be
released next week.

So all I can say to you is, DYOR. I have

Also I believe, the Uranium debate should be
happening here, in this country at the moment

I am going off the various drill results published. As far as I can see, of the 60,000 metres for IDA dome, only about 20,000 metres (roughly) have actually been reported out of the lab. My understanding is that about 40,000 metres of drilling have been completed in IDA, it is just the labs that are taking so long. For those 20,000 metres of assays we can expect roughly 20 million lbs initially. Maybe a little bit more, maybe 25 million.

Extrapolating those figures I think the final IDA resource could be about 50-60 million lbs (twice what was originally suggested) but we will have to wait quite some time before that is proven and I am assuming the results remain consistent. A hole like GD012 (in Garnet Valley) could raise that figure.

On another matter, Rossing South is moving ahead really fast and all indications are that it is a monster resource, I mean a real monster. The fact that it is an easier terrain to drill in and the fact that it holds so much promise has driven EXT to move drills to Rossing South. This means that Rossing South is fast catching up to IDA in terms of progress.

In the end I cannot see that the game is about anything other than Rossing South. Even though Garnet Valley and GD012 was horn-bag stuff, it is Rossing South which will capture the imagination of RIO TINTO. Not only because of the size of the deposit but mainly because of where it is in relation to the existing processing plant.

How big will Rossing South prove to be? I have NFI but I think there will be lots of OOHHHs and AAAHHHs when we know.

South Perth, Western Australia – July 30 2008 – Extract Resources (“the Company”), (TSX:EXT;ASX:EXT), a Uranium exploration company with projects in Namibia, Africa, today announced a preliminary exploration target at Rossing South of between 126 and 198 million pounds U3O8.

I think rossing south'resources will be over 300mb,they only drilled 6.4 km of 15km. good luck all long term holder.

hbg55

schrieb am 30.07.08 17:29:00

Beitrag Nr. 209 (34.616.741)

......grad im HC entdeckt..........

To all s\hs.

Fat Prophets, met with management today 30\07\08.

To discuss the Husab U Project, which was released
to the Market today.

Fat Prophets statement about the IDA DOME Prospect.

We anticipate the Ann of an initial JORC Res estimate
some time next week, with our ball park estimate
somewhere Between 20 -25 Million Ibs of U3O8.
If so, we would imagine EXT would have a res Target
of around 40 Million Ibs by years end, Based on
current drilling rates we emphasise however that this
is merely an initial & prelimanary figure, based on
less than half of the total Drilling Metreage
planned for IDA DOME. In fact, EXT has so far completed
only 30,000 Metres ( or half of its planned 60,000
Metre drill programme)
with ASSAY Results available for 25,000 Metres of this
work.
So there remains a lot more upside, with the likelyhood
of around 50 MILLION Ibs by the end of the planned
drilling programme.

The company remains well funded, with around $30-
Million cash at bank, plus a further $10 Million from
the exercise of options. This should see the Company
comfortably through its Exploration Commitments until
the end of 2009, Based on its current EXP spend of
$1,0- $1.5 Mill per month.

We have never been more comfortable with the
company"s Development programme and are confident
that the Recognition will soon follow.

1) Extract Resources currently has a 25.1Mlbs resource at Ida Dome and 108.3Mlbs for Zone 1 at Rossing South.We are expecting a resource of at least 105Mlbs for Zone 2 at Rossing South, due in July 2009.